Revenue from Contracts with Customers |
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| Revenue from Contracts with Customers | Revenue from Contracts with Customers Disaggregation of revenues – Revenue from contracts with customers, other than insurance premiums, is reported as Non-insurance warranty revenue and within Operating revenues and other on the Consolidated Condensed Statements of Operations. The following table presents revenues from contracts with customers disaggregated by revenue type along with the reportable segment and a reconciliation to Operating revenues and other as reported in Note 11:
Receivables from contracts with customers – As of March 31, 2025 and December 31, 2024, receivables from contracts with customers were approximately $252 million and $240 million and are included within Receivables on the Consolidated Condensed Balance Sheets. Deferred revenue – As of March 31, 2025 and December 31, 2024, deferred revenue resulting from contracts with customers were approximately $4.6 billion and are reported as Deferred non-insurance warranty revenue and within Other liabilities on the Consolidated Condensed Balance Sheets. Approximately $413 million and $410 million of revenues recognized during the three months ended March 31, 2025 and 2024 were included in deferred revenue as of December 31, 2024 and 2023. Performance obligations – As of March 31, 2025, approximately $18.7 billion of estimated operating revenues is expected to be recognized in the future related to outstanding performance obligations. The balance relates primarily to revenues for transportation and storage services for natural gas and natural gas liquids and other hydrocarbons (“NGLs”) and certain ethane supply contracts at Boardwalk Pipelines and non-insurance warranty revenue at CNA. Approximately $2.3 billion will be recognized during the remaining nine months of 2025, $2.4 billion in 2026 and the remainder in following years. The actual timing of recognition may vary due to factors outside of the Company’s control.
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